Singapore casinos recovering says Sands

The recovery of the Singapore gaming market was marked by operator Las Vegas Sands, owner of the Marina Bay Sands (pictured).

The iconic venue, said the company, had enjoyed EBITDA of US$343m in the third quarter.

Robert Goldstein, CEO, commented: “While travel restrictions continued to impact our financial results this quarter, we were pleased to see further progress in Singapore’s recovery, with Marina Bay Sands reaching $343m in adjusted property EBITDA.

`’We remain enthusiastic about the opportunity to welcome more guests back to our properties as greater volumes of visitors are able to travel to both Singapore and Macau.”

The company showed net revenue of just over $1bn, compared with $857m in the comparable quarter of last year. There was an operating loss of $177m, compared with $316m.

The net loss from continuing operations in the third quarter was $380m, compared with $594m. Consolidated EBITDA was $191m, compared with $47m.